Senate Crypto Bill Fails Vote, Digital Commodities Framework Still on Table

The latest version of H.R. 3633, a Senate-amended bill aimed at regulating digital assets, defines most crypto assets as digital commodities and designates the Commodity Futures Trading Commission (CFTC) as the primary regulator.

The proposal, which failed to advance to floor debate in a September 15 procedural vote by a margin of 49-50, would establish a comprehensive framework for regulating digital assets.

Republican Sens. Susan Collins (Maine), Josh Hawley (Mo.), and Jerry Moran (Kan.) joined Democrats in opposition to the measure, which could still come up for further consideration after Sen. Thom Tillis (R-N.C.) voted no in order to file an amendment.